Circular No. 010-2026-SMV/11.1

PERU Ministry of Economy and Finance

SMV
Securities Market Superintendence
"Decade of Equal Opportunities for Women and Men" A v . P a s e o d e l a R e p ú b l ic a 3 6 1 7 S a n I s id r o Central: 6 1 0 - 6 3 0 0 www.smv.gob.pe Electronically signed document within the framework of Law No. 27269, Law of Digital Signatures and Certificates, its Regulations and amendments. The integrity of the document and the authorship of the signature(s) can be verified at https://apps.firmaperu.gob.pe/web/validador.xhtml San Isidro, January 8, 2026

CIRCULAR NO. 010-2026-SMV/11.1

Gentlemen
Structuring Entities
Present.-
Ref.: File No. 2026000646

I address you to make you aware of the current minimum amounts referenced in the Single Consolidated Text of the Securities Market Law, Legislative Decree No. 861, approved by Supreme Decree No. 020-2023-EF (hereinafter, TUO of the LMV) and in the various regulations approved by the Securities Market Superintendence – SMV, regarding Entities authorized and/or supervised by the Superintendence for the Supervision of Market Conducts – SASCM.

In this regard, it should be indicated that, although the minimum amounts indicated in the regulations are constant, they must be updated annually based on the National Wholesale Price Index (hereinafter, IPM), as provided by the Final First Provision of the LMV1; taking into consideration for the year 2026 the IPM corresponding to December 20252.

In that sense, the current minimum amounts for the year 2026 are as follows:

Updated Minimum Amounts 2026

No.	Minimum Amounts LMV and SASCM Competition Regulations	Legal Basis	Base Amounts	Updated Amounts 2026 (*)
1	Lowest nominal value or unit placement value - Private Offering (Article 5 of the LMV)	Article 5 of the LMV	250,000	578,563
2	Share Capital and Net Equity of the Risk Classification Company (Article 272 of the LMV and Article 20 of the Regulation of Risk Classification Companies, approved by SMV Resolution No. 032-2015-SMV/01)	Article 272 of the LMV and Article 20 of the Regulation of Risk Classification Companies, approved by SMV Resolution No. 032-2015-SMV/01	400,000	925,700

1 «First.- The sums referenced in this law are of constant value and are updated annually, at the close of each fiscal year, based on the Wholesale Price Index for Metropolitan Lima published periodically by the National Institute of Statistics and Informatics. The number obtained for the month of January 1996 is considered as the base of the aforementioned index». (Emphasis and underline added) 2 Published in the Official Gazette El Peruano on December 31, 2025. Web link: https://busquedas.elperuano.pe/dispositivo/NL/2473374-1

PERU Ministry of Economy and Finance

SMV
Securities Market Superintendence
"Decade of Equal Opportunities for Women and Men" A v . P a s e o d e l a R e p ú b l ic a 3 6 1 7 S a n I s id r o Central: 6 1 0 - 6 3 0 0 www.smv.gob.pe Electronically signed document within the framework of Law No. 27269, Law of Digital Signatures and Certificates, its Regulations and amendments. The integrity of the document and the authorship of the signature(s) can be verified at https://apps.firmaperu.gob.pe/web/validador.xhtml

No.	Minimum Amounts LMV and SASCM Competition Regulations	Legal Basis	Base Amounts	Updated Amounts 2026 (*)
3	Share Capital of the Structuring Entity (Article 7, numeral 7.6, of the Regulation of Structuring Entities of the Securities Market, approved by SMV Superintendent Resolution No. 142-2014-SMV/02)	Article 7, numeral 7.6, of the Regulation of Structuring Entities of the Securities Market, approved by SMV Superintendent Resolution No. 142-2014-SMV/02	750,000	1,735,688
4	Investment Portfolio in securities - Non-State Legal Persons (Annex 1, numeral 4, of the Regulation of the Institutional Investors Market, approved by SMV Resolution No. 021-2013-SMV/01)	Annex 1, numeral 4, of the Regulation of the Institutional Investors Market, approved by SMV Resolution No. 021-2013-SMV/01	1,000,000	2,314,250
5	Fund or Individual Net Equity administered by Institutional Investors (Annex 1, numeral 5, of the Regulation of the Institutional Investors Market, approved by SMV Resolution No. 021-2013-SMV/01)	Annex 1, numeral 5, of the Regulation of the Institutional Investors Market, approved by SMV Resolution No. 021-2013-SMV/01	400,000	925,700
6	Net Equity of natural persons (Annex 1, numeral 6, of the Regulation of the Institutional Investors Market, approved by SMV Resolution No. 021-2013-SMV/01)	Annex 1, numeral 6, of the Regulation of the Institutional Investors Market, approved by SMV Resolution No. 021-2013-SMV/01	2,000,000	4,628,501
7	Investment portfolio in securities of natural persons (Annex 1, numeral 6, of the Regulation of the Institutional Investors Market, approved by SMV Resolution No. 021-2013-SMV/01)	Annex 1, numeral 6, of the Regulation of the Institutional Investors Market, approved by SMV Resolution No. 021-2013-SMV/01	1,000,000	2,314,250

Source: Amounts indicated in the provisions of the cited norms and IPM (approved via Head Resolution No. Nº 255-2025-INEI of December 31, 2025).
(*) The 2026 amounts have been calculated by updating.

Finally, it should be noted that this Circular does not require a response from your represented entity, since its character is merely informative; the information detailed above must be taken into consideration in cases and/or administrative procedures in which your represented entity observes the aforementioned minimum amounts established in the regulations.

Without further particulars, I remain at your disposal.

Sincerely,

Alix Godos
General Superintendent
General Superintendence of Conduct Supervision